Press release
Mining Truck Market Size, Share, Growth Report and Global Industry Forecast 2024-32
The global mining truck market size reached US$ 24.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
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What is Mining Truck?
They are available in several product types, such as rear dump trucks, lube trucks, bottom dump trucks, water trucks, etc. These mining truck models can efficiently maneuver in off-road and off-highway conditions and are also equipped to work on slippery roads. They are mostly utilized to haul and transport large quantities of mined material with ease. Consequently, mining truck variants find extensive applications across various sectors, including mining, construction, waste management, etc.
Mining Truck Market Trends:
The expanding mining industry and the increasing need for hassle-free and efficient transportation of mined materials are primarily driving the mining truck market. In addition to this, the growing automation of mining operations to improve productivity and reduce damage caused by on-site accidents is acting as another significant growth-inducing factor. Moreover, the elevating usage of electric trucks to lower the emission of greenhouse gases during mining activities is further augmenting the global market. Besides this, the rising exploration of new coalfields and extraction of precious metals, owing to the escalating demand for energy, minerals, and ores across countries, is expected to bolster the mining truck market in the coming years.
Leading Companies Operating in the Global Mining Truck Industry:
BEML Limited
Bryan Industries Pty Ltd
Caterpillar Inc.
CNH Industrial N.V.
Deere & Company
Doosan Corporation
Hitachi Construction Machinery Co., Ltd.
Komatsu Ltd.
Kress Corporation
OJSC BelAZ
Sany Group Co., Ltd.
Voltas Limited
Volvo Group
XCMG Group, etc.
Key Market Segmentation:
Breakup by Type:
Bottom Dump
Rear Dump
Lube
Tow
Water
Others
Breakup by Application:
Coal Mining
Iron Mining
Copper Mining
Aluminum Mining
Others
Breakup by Payload Capacity:
290 Metric Tons
Breakup by Drive:
Mechanical Drive
Electrical Drive
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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Media Contact:
IMARC Group
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Email: sales@imarcgroup.com
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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